Question

Suppose that a marginal revenue function is given by

R′(x)=500−12x.

It is known that R(11)=474. What is the correct interpretation of this result?Select the correct answer below:

At a production rate of 11 units per unit time, the revenue is decreasing at a rate of 474 per unit time.

At a production rate of 11 units per unit time, the revenue is increasing at a rate of 474 per unit time.

The total revenue generated per unit time at a production rate of 11 units is 474.

None of the above.

Step 1

Explanation:

A marginal revenue function is R\\\'(x)=500-12x and it is known that *R*(11) = 474.

Step 2

Substitute 11 for *x* in R\...

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